Ringgit opens marginally higher on positive momentum

KUALA LUMPUR: The ringgit continued its positive movement to open marginally higher against the US dollar today on the back of a slight retracement of the greenback against major currencies.

However, the US dollar continues to appeal as a safe-haven currency and would see upside pressure following the uncertainties in Russia over the weekend and concerns over global growth and the expectation of more monetary tightening policy from the US Federal Reserve, dealers said.